Hellenic Mining Company Limited - Nicosia

Hellenic Copper Mines (HCM) was formed in 1994 by Hellenic Mining Co Ltd a Cypriot company and Oxiana NL an Australia company, later renamed to Oz Minerals. Since 2010, the majority shareholder of HCM is Iacovou Brothers (Overseas) Ltd. The mission of HCM was to revive the country’s mining industry by exploiting the remaining low grade copper reserves of Cyprus, starting from the ancient mines of the Skouriotisa area which are located in the North-West of Cyprus.

Mining activity in that area goes back to 2,600BC a period during which Cyprus became very famous in the area of Mediterranean for its copper reserves and its copper trading with nearby countries. This activity continued up to the 4th century BC, and it later declined. It was revived in 1916 by the Cyprus Mines Corporation  

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(CMC), when American Gunther rediscovered the mine deposits of Skouriotissa and the nearby areas and continued until the Turkish invasion in 1974. At that time CMC’s production facilities fell within the Turkish occupied part of Cyprus and mining was discontinued until 1994, when HCM obtained a government mining permit to re-start mining operations in the area. Following 2 years of plant construction and preparation of the mine infrastructure, mine operations and production started in June 1996.